Book Image

Managing Data Integrity for Finance

By : Jane Sarah Lat
Book Image

Managing Data Integrity for Finance

By: Jane Sarah Lat

Overview of this book

Data integrity management plays a critical role in the success and effectiveness of organizations trying to use financial and operational data to make business decisions. Unfortunately, there is a big gap between the analysis and management of finance data along with the proper implementation of complex data systems across various organizations. The first part of this book covers the important concepts for data quality and data integrity relevant to finance, data, and tech professionals. The second part then focuses on having you use several data tools and platforms to manage and resolve data integrity issues on financial data. The last part of this the book covers intermediate and advanced solutions, including managed cloud-based ledger databases, database locks, and artificial intelligence, to manage the integrity of financial data in systems and databases. After finishing this hands-on book, you will be able to solve various data integrity issues experienced by organizations globally.
Table of Contents (16 chapters)
1
Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance
5
Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity
10
Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems

Managing orphaned records

Orphaned records, as the name suggests, are records whose relationship to the parent record does not exist. If we delete Product_ID 151003 for Income protection insurance, this means that the transactions for this product are not referencing any financial information contained in the Product_Details table.

In some cases, if raw financial data is provided and generated by a Dev team, and the Dev team does not perform referential integrity checks, issues may occur. Thus being able to detect orphaned records, especially when dealing with multiple records, as early as possible is critical.

The next steps will cover how to do this in Power BI.

Identifying orphaned records in Power BI

Let’s go to Transform data and delete one of the product IDs. Select the Income protection insurance row and click on Remove Rows under the Home tab, as shown in Figure 6.40. Don’t worry, we can undo this step later, under APPLIED STEPS.

Figure 6.40 – Selecting Remove Bottom Rows under Remove Rows ...